2) Travel time saving (Value of time: VOT)
Travel time savings or value of time (VOT) is a major
benefit arising from transport infrastructure and service
improvements. It is also the value of time that passengers lost
on the road while they can use the time to engage in other
activities which can create economic value. This study uses
the standard valuing of time calculated by Asian Development
Bank (ADB) which defines differently in diverse vehicles.
ADB stated that value of time when the passengers travel by
car (Passenger Car Equivalent Unit: PCU) are 110 baht per
hour, 127 baht per hour, and 176 baht per hour in year 2008,